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Survey: More than 60% of businesses hurt by weak yen NHK

A survey by a private research firm shows more than 60 percent of businesses in Japan have been negatively impacted by the rapid depreciation of the yen.

Teikoku Databank polled some 25,000 businesses nationwide in the latter half of July about the effects of the weak yen. Some 11,000 businesses responded.

Sixty-one percent said their performance has been negatively affected, while 4 percent said the impact has been positive and 7 percent couldn't say.

Many textile and clothing accessory wholesalers, as well as food, beverage and feed manufacturers said they were negatively affected.

More than 70 percent said higher costs due to soaring prices of raw materials, fuel and energy had hurt business.

Nearly 40 percent said they lost profits because they couldn't raise sales prices despite higher costs.

Officials at the research firm say an increase in exports due to the weaker yen has not been as effective as in the past. Rather, higher import costs have highlighted the negative side of the yen's depreciation.

They point out that bankruptcies blamed on higher purchase prices are on the rise, and that this trend could continue.
Summary
61% of Japanese businesses surveyed report negative impacts from yen depreciation, with increased costs being a primary concern. Sectors like textiles, food, and beverages are heavily affected. Nearly 40% struggled to maintain profits despite rising costs, while only 4% saw benefits. The
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ID: 62fb6d74-a6a0-4b2c-8761-668bc0a80b98

Category ID: nhk

URL: https://www3.nhk.or.jp/nhkworld/en/news/20220816_19/

Date: Aug. 16, 2022

Created: 2022/08/16 19:12

Updated: 2025/12/09 14:18

Last Read: 2022/08/16 19:12